GoldReserve is the next step cryptocurrency! I created this coin, because there are not one altcoin existing which gives people the feeling that it will give a steady growth and if things goes sideways, and coins can be easily liquidated at any time without a huge loss. GoldReserve gives you all of that! The Stabilizer Fund - collected during the POW phase - will be converted into GOLD! (Yes, the precious metal!) This will serve as the backup of the coin. With this Fund I will be able to buy back DIRECTLY each and every existing GoldReserve coins!

How does it work?

Its simple. There is a premine (yes, it's because of the nature of this coin! Read on), which will be sold, slowly, bit by bit during the POW phase. The BTC collected on a publicly known address will be divided to 4 parts: 80-10-5-5 %. 80% will go to the Stabilizer Fund, which will be directly converted to GOLD, and of course it will be on a publicly announced account, and everybody could check 24/7, how much GOLD is on it! 10% will go to the dev directly (I think of it as a salary, and a fund to upgrade the coin from time to time), 5% will go to Charity (Cancer Foundations, Animal shelters, Homeless shelters, there will be a vote to choose which one)5% will go to a development fund, it will be used for future improvement like anonimity (its not in it yet), merchant acceptance, etc.

There also will be a DONATION account, both XGR and BTC, everyone welcome to send a donation, if you benefited from this coin in any way! The DONATION will be divided as the premine!

Why I choose this method?

I think all of the scams we experienced recently, are because the individuals who launched the hundreds of altcoins forgot one thing. How they will get a steady income out of their own coin? As they realized they can not have it directly from mining or trading then they did not have any other choise but to trick the money out of your pockets. I created this coin to be prosper for a long time. For reaching this goal, I have to put time and money in this project, but everyone will have the benefits of my hard work! For my work I think I deserve a percent of the profit you make with my coin. Straight and simple.

Milestone I

Approximately 2-3 weeks after launch, premine will be sold entirely. The BTC amount will be divided as mentioned before. The First set of Gold will be bought, Gold account will be revealed.

Milestone II

After POW phase over, price will fluctuate then settle at a certain level. Hopefully, the community will donate a few percentage of their gain on GoldReserve, making it possible to buy more and more Gold with that Fund. Minimum price will grow, which stimulate the price to go higher and higher.

Milestone III

To became a worldwide known cryptocurrency, GoldReserve should have an Exchange where GRE can trade against the 3 largest FIAT, USD, EUR, CNY (Chinese Yuan).

Premine: 10% (4million)IPO 1: 500,000 coinsIPO 2: 100,000 coinsIPO 3: 100,000 coinsDeveloper funds: 100,000 coins IPO should not be sold within 5 days or till daily volume of the exchange is more then that!